Bharti Airtel on Tuesday beat Street estimates on the back of one-time spectrum sale gain and tariff increases undertaken in August. The telco’s Q2 consolidated net profit jumped 300 per cent quarter-on-quarter at Rs 1,134 crore, aided by a one-time gain of Rs 722 crore on account of spectrum sale to Reliance Jio. Net profit before the one-time gain was Rs 594 crore.
Airtel’s consolidated revenue on a sequential basis was up 6 per cent at Rs 28,326 crore. Its consolidated Ebitda at Rs 14,018 crore was up 6.2 per cent compared to the preceding quarter. FE